ASSYSTEM : First-half 2017 consolidated revenue up 7.1% year on year, Robust organic growth of 9.2% for the Energy & Infrastructure business
(Thomson Reuters ONE) -
First-half 2017 consolidated revenue up 7.1% year on year
* Robust organic growth of 9.2% for the Energy & Infrastructure business
Paris, 27 July 2017, 5.35 p.m. (CEST) - Assystem S.A. (ISIN: FR0000074148 - ASY)
today announced its consolidated revenue figures for the six months ended 30
June 2017 (first-half 2017).
On 11 May 2017, Assystem announced that it had entered into an agreement with
Ardian to transfer its outsourced R&D division - Global Product Solutions (GPS)
- to a company that will be 60%-owned by Ardian and 40%-owned by Assystem. The
transaction is scheduled for completion by end-September 2017.
In accordance with IFRS 5, as the agreement provides for Ardian to take over
control of GPS, this business has been classified by Assystem as held for sale
since 1 January 2017. Consequently, GPS's revenue is not included in the Group's
consolidated revenue for the first half of 2017, and the first-half 2016
consolidated revenue figure has been restated in order to facilitate year-on-
year comparisons.
The full amount of GPS's profit will be recorded under "Profit from discontinued
operations" in Assystem's consolidated financial statements for the period
between 1 January 2017 and the date on which its control is transferred. As from
that date GPS will be renamed Assystem Technologies Groupe and it will be
accounted for by the equity method in Assystem's consolidated financial
statements based on Assystem's ownership interest in Assystem Technologies
Groupe.
First-half 2017 revenue
and year-on-year changes* (unaudited)
In millions of euros H1 2016* H1 2017 Total year-on- Organic year-on-
year change year change**
-------------------------------------------------------------------------------
Group 191.0 204.5 +7.1% +5.2%
-------------------------------------------------------------------------------
Energy & Infrastructure 156.8 175.5 +11.9% +9.2%
Staffing 29.4 24.3 -17.5% -17.5%
Other 4.8 4.7 - -
-------------------------------------------------------------------------------
* Restated in order to facilitate year-on-year comparisons.
** Based on a comparable Group structure and constant exchange rates.
Based on its new scope of consolidation, the Group's revenue rose by 7.1% year
on year in the first half of 2017, breaking down as 5.2% in organic growth (9.3%
excluding the impact of the Staffing business), a 2.4% increase due to changes
in scope of consolidation and a 0.5% negative currency effect.
ENERGY & INFRASTRUCTURE
Revenue generated by the Energy & Infrastructure business advanced 11.9% in the
first half of 2017 to ?175.5 million and accounted for 86% of total consolidated
revenue for the period. Organic growth came to 9.2%, changes in scope of
consolidation had a positive 3.3% impact and the currency effect was a negative
0.6%.
Both sectors of this business reported strong growth, with:
* Revenue from Nuclear activities up 7.6% to ?102.0 million, with 8.7% organic
growth at constant exchange rates.
* Revenue for Energy Transition & Infrastructures rising 18.5% to ?73.8
million, with organic growth at constant exchange rates amounting to 10.0%,
driven in particular by growth delivered in the transport infrastructures
and life sciences sectors.
STAFFING
At ?24.3 million (representing 11.9% of the consolidated total for the first six
months of 2017), revenue for the Staffing business was down 17.5% on the first
half of 2016. However, the first-half 2017 figure was slightly higher than the
?23.8 million reported for the second half of 2016. The Group expects this
business to return to growth in second-half 2017.
GLOBAL PRODUCT SOLUTIONS
Revenue for the Global Product Solutions business (which, in accordance with
IFRS 5, is no longer fully consolidated by Assystem) rose to ?330.5 million in
the first half of 2017 from ?290.4 million in the comparable prior-year period.
This robust 13.8% year-on-year increase breaks down as 11.3% in organic growth,
a 3.6% positive impact from changes in scope of consolidation and a 1.1%
negative currency effect.
Revenue from Aerospace and Automotive activities amounted to ?189.6 million and
?116.6 million respectively, representing year-on-year increases of 10.9% for
Aerospace (of which 9.4% organic growth at constant exchange rates) and 22.4%
for Automotive (of which 17.3% organic growth at constant exchange rates).
HEADCOUNT
Based on its new scope of consolidation, the Assystem Group had 4,690 employees
at 30 June 2017, representing a comparable-basis increase of 264 compared with
one year earlier.
At 30 June 2017, GPS's headcount amounted to 8,091, representing a comparable-
basis increase of 448 compared with 30 June 2016.
OUTLOOK FOR 2017
Assystem's full-year 2017 targets for its new scope of consolidation are to
achieve the following:
* organic revenue growth of around 10% at constant exchange rates for the
Energy & Infrastructure business;
* revenue of c. ?50 million for the Staffing business.
* * *
PROGRESS REPORT ON THE TRANSFER OF CONTROL OF GPS TO ARDIAN
The employee representative bodies concerned by the planned transfer of control
have issued a favourable opinion on the transaction, which was received by
Assystem on 22 June 2017. The Company's shareholders then gave their approval in
a General Meeting held on 5 July 2017. The transaction's completion - which is
scheduled for the third quarter of 2017 - is still subject to clearance from the
relevant merger control authorities.
GPS will change its name to Assystem Technologies Groupe as from the completion
date of the transaction.
2017 FINANCIAL CALENDAR
* 11 September: Press release for first-half 2017 results
* 9 November: Press release for third-quarter 2017 financial information
Assystem is an international engineering group. As a key participant in the
industry for 50 years, the Group supports its clients in managing their capital
expenditure throughout the product life cycle. Assystem SA is listed on Euronext
Paris.
For more information, please visit www.assystem.com
Follow Assystem on Twitter: (at)Assystem
CONTACTS
Philippe Chevallier Agnès Villeret
CFO & Deputy CEO Investor Relations - Komodo
Tel.: +33 (0)1 55 65 03 10 agnes.villeret(at)agence-komodo.com
Tel.: +33 (0)6 83 28 04 15
FIRST-HALF 2017 REVENUE BY QUARTER
In millions of euros Q1 2016* Q1 2017* Total year-on- Organic year-on-
year change year change**
-------------------------------------------------------------------------------
Group 94.4 103.1 +9.3% +6.3%
-------------------------------------------------------------------------------
Energy & Infrastructure 77.4 88.4 +14.2% +10.4%
Staffing 14.6 12.2 -16.4% -16.4%
Other 2.4 2.5 - -
-------------------------------------------------------------------------------
In millions of euros Q2 2016* Q2 2017 Total year-on- Organic year-on-
year change year change**
-------------------------------------------------------------------------------
Group 96.6 101.4 +4.9% +4.1%
-------------------------------------------------------------------------------
Energy & Infrastructure 79.3 87.0 +9.7% +8.0%
Staffing 14.8 12.1 -18.5% -18.5%
Other 2.5 2.3 - -
-------------------------------------------------------------------------------
* Restated in order to facilitate year-on-year comparisons.
** Based on a comparable Group structure and constant exchange rates.
Assystem 2017First Half Revenue:
http://hugin.info/143356/R/2123689/810106.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ASSYSTEM via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 27.07.2017 - 17:35 Uhr
Sprache: Deutsch
News-ID 554285
Anzahl Zeichen: 9872
contact information:
Town:
Paris
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 283 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"ASSYSTEM : First-half 2017 consolidated revenue up 7.1% year on year, Robust organic growth of 9.2% for the Energy & Infrastructure business"
steht unter der journalistisch-redaktionellen Verantwortung von
ASSYSTEM (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
